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Pastimes : QQQ & DIA - chat & chart

QQQ 632.08

+0.5%

Nov 3 4:00 PM EST

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To: Chris McConnel who wrote (712)	9/18/2003 10:35:56 AM
From: James F. Hopkins	Read Replies (2) of 795

Wall of Worry, Cash levels are very high..so is margin but cash is more and has more power "if" it comes into stocks and not bonds..Crude oil price is still falling, now under 27. Fed not going to increase rates any time soon, but every one is scared of OCT. It's a mixed bag but th trend is still up and "scared" shorts who are still fighting that trend could be the ones who are forced to buy the top. It's the scared money in the market taht most often losses, if both sides are scared Bulls & Bears ( and it looks that way ) , the Bulls have cash, the Bears on the other hand are the ones with margin. --- My "guess" is that the Top is a way off..and if Oil falls any more it could move the market a lot higher. It's just a guess but that's all anyone has at this time, none of the indicators make enough sense to be definitive. I've been bearish and high in cash, I'm now buying "some" so maybe my buying will mak the market go down. ? Jim

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